Which Policy Options For Europe In The Global Competition For Talent? Brain Competition Policy As A New Breed Of Locational Policy With Positive Externalities
Source: Vienna University
The emerging knowledge economy has led to an increase of demand and locational competition for highly-skilled labor. Brain Competition Policy (BCP) is the reaction from national and regional policymakers. In short, BCP refers to the attraction, education and circulation of talent in and between regional and national economies. This new focus on human capital instead of physical capital indicates a paradigmatic shift in innovation policy and regional policy. While most of the contributions to this new policy approach come from the US, it can be demonstrated that different institutions in Europe prevent the simple copying of those strategies.